Fri Sep 06 20:45:00 UTC 2024: – Eastside Distilling, Inc. has closed a registered direct offering for the sale and issuance of 442,042 shares of the company’s common stock to an institutional investor at a purchase price of $1.00 per share.
– The transaction resulted in approximately $442,000 in gross proceeds for the company, before deducting placement agent’s fees and other expenses.
– The net proceeds from the offering will be used for working capital and general corporate purposes.
– Joseph Gunnar & Co., LLC acted as the exclusive placement agent for the offering.
– The offering was made under a “shelf” registration statement on Form S-3 and a final prospectus supplement with terms of the offering has been filed with the SEC.
– Eastside Distilling, Inc. is a producer of craft spirits based in Portland, Oregon, committed to quality, innovation, and sustainability.
– Forward-looking statements in the press release caution about potential risks and uncertainties associated with the company’s business model.
– For more information, visit the company’s investor information page and follow their social media channels for updates.

Read More